Third-party developers for the upcoming Nintendo Wii U console have indicated that it may have 50 percent more processing power than that of the PlayStation 3 or Xbox 360, according to analyst reports.

Arvind Bhatia at analyst firm Sterne Agee explained in an investor note that, although the processing power of the console is yet to be confirmed by Nintendo, a number of developers said that the Wii U will be notably more powerful than both the PS3 and Xbox 360.

The analyst also noted that publishers said they will likely make ports of existing PS3 and Xbox 360 games for the Wii U to keep initial costs low while the Wii U still has a small install base.

As more consumers pick up the console, we can then expect new and unique games with big budgets that take full advantage of the Wii U's controller, he suggested.

Earlier today, Michael Pachter, games industry analyst at Wedbush Securities, said that he believes Nintendo's Wii U "is arriving two years too late," while noting that "the system will be either a phenomenal success or a phenomenal failure."